“In September, we’ve obtained a yield of 4.76% and so now we set the guidance at 4.25%, considering the spread has improved by almost 70 basis points on the back of the new agreement with the International Monetary Fund,” Voinea told Mediafax.
Voinea didn’t say how much the Finance Ministry is hoping to raise at the sale. According to market sources, the issue has already drawn over EUR1.5 billion in subscriptions.
In a separate announcement Monday, the finance ministry set an indicative target for the issue of EUR250 million to EUR500 million.
At the initial sale last month, the ministry sold EUR1.5 billion of seven-year euro-denominated bonds due September 2020 at an annual yield of 4.4769%, the country’s best yield so far in international markets.